Comparing Virtual Data Room Providers

When comparing data room providers, it is important to consider their functionality as well as security features and cost. This article will help you evaluate your options and find the best service that meets your needs as a business.

Virtual data rooms are online repositories which allow private documents to be shared and archived. The documentation is usually valuable and requires confidentiality to protect intellectual property. Virtual data rooms are utilized in M&A due-diligence and other types business transactions. However, this technology is beneficial for any business which requires sharing of confidential documents with outside parties.

Free VDRs are tempting, but they aren’t equipped with security features. They also are susceptible to data theft and data breaches. If your business has significant value investing in a safe, well-respected VDR is highly recommended.

Certain VDR providers charge on a per project basis, which is a great option when you need to share documents for one transaction. Some providers charge per user and are more expensive but provides unlimited storage for data and space.

Some vendors are industry specific like iDeals VDR, which is designed to aid in M&A due diligence. Others, such as Intralinks are targeted at large-scale transactions and feature advanced functionality like real time vector watermarking and classification labels. They also offer the most comprehensive compliance certifications available, including FedRAMP, HIPAA and GDPR. They also provide an extensive control of access and detect unusual behaviors, such as when an employee downloads the entire collection of documents from a company.

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